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Wednesday, 06 September 17
LAYTIME - CHARTERERS' RIGHTS & PORT COSTS - NORTH P&I CLUB
 KNOWLEDGE TO ELEVATE
In a recent London Arbitration decision (18/17) the Tribunal had to consider whether the owners were entitled to recover additional expenses incurred in complying with charterers’ orders to stop loading operations.
The Facts
The vessel was voyage chartered for a voyage from the USA to Venezuela. Upon arrival at the load port, loading commenced. When charterers became aware of this they ordered the loading to stop. Loading did not then recommence until four days later. Owners claimed from charterers the additional dockage, security and guards’ expenses incurred as a result of the four day interruption to loading.
The Load Port Expenses
In respect of the additional load port expenses, the Tribunal held that the allocation of such expenses would usually fall to owners under the charterparty terms. This was because the charterers were entitled to use the laytime as they wished and so it followed that the associated expenses had to lie where they fell, i.e. with the owners. However, the Tribunal accepted evidence from the owners that an oral agreement had been reached between the owners and the charterers that charterers had agreed to pay the owners’ invoice in full, which included the additional port expenses. It was, therefore, as a result of this additional oral agreement that the Tribunal ordered the charterers to pay the additional port expenses to the owners. Without this oral agreement, which changed the terms of the charterparty, the owners would not have received any compensation for the additional load port expenses incurred as a result of the four day delay.
A Reminder
It is worth reminding owners that charterers do have an absolute right to use the given laytime as they see fit. There is no duty on them to load or discharge faster than the given laytime. Therefore, if a charterer orders the vessel to stop cargo operations when laytime is running, the port expenses incurred during the stop will usually be for owners. This is unless a specific clause (or additional oral or written agreement on this point) can be agreed between the owners and the charterers to the contrary.
Source: North of England P&I Club
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Wednesday, 11 March 15
DRY BULK MARKET CLOSED OFF ON THE GREEN FOR A SECOND WEEK IN A ROW - INTERMODAL
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U.S. ELECTRIC GENERATING COMPANIES TO ADD MORE THAN 20 GW OF GENERATING CAPACITY IN 2015; 16 GW OF GENERATING CAPACITY IS EXPECTED TO RETIRE IN 2015
COALspot.com: In 2015, electric generating companies in U.S. expect to add more than 20 gigawatts (GW) of utility-scale generating capacity to the ...
Tuesday, 10 March 15
OIL PRICE FORECASTING - IGNORE THE EXPERTS: COLIN MARSHALL
KNOWLEDGE TO ELEVATE
Experts put themselves on a pedestal, making claims to have special forecasting abilities for oil price trends. They, too ...
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- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
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